The data provided by Petrobangla sheds light on the gas exploration and production landscape in Bangladesh, particularly highlighting the efforts and outcomes of both state-owned and foreign oil and gas exploration companies.
Over the past 23 years, state-owned companies such as Bangladesh Petroleum Exploration and Production Company Limited (Bapex), Bangladesh Gas Fields Company Limited (BGFCL), and Sylhet Gas Fields Limited (SGFL) have collectively drilled 59 gas wells in the country, investing 6 thousand 832 crore taka in the process. These efforts have led to the discovery of gas in approximately 50 % of the exploratory wells drilled by these companies, with a total income of 33 thousand 288 crores generated from the sales of gas obtained.
On the other hand, foreign oil and gas exploration companies (IOCs) have invested nine times more than their state-owned counterparts, amounting to 56 thousand 545 crores, and have drilled a total of 54 gas wells. Despite the higher investment, the success rate of these foreign companies stands at 25% , with gas discovered in only 25% of the wells drilled.
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